REDUCING THE RATES OF IMPORT DUTY ON CEMENT AND CEMENT CLINKER UNDER SECTION 104 OF PRESIDENTIAL DECREE NO. 1464, OTHERWISE KNOWN AS THE TARIFF AND CUSTOMS CODE OF 1978, AS AMENDED

WHEREAS, under Executive Order No. 94 as amended by Executive Order No. 116 series of 1993, portland cement and cement clinker had rates of import duty of 5% and 3%, respectively, until June 30, 1994;

WHEREAS, with the expiration of the said Executive Order, the subject articles are now levied rates of duty of 20% and 10%, respectively, under Executive Order No. 470, s. 1992;

WHEREAS, in view of the sharp increase in the demand for cement in the domestic market, the continued importation of subject articles is imperative to avert a possible shortage in the local supply that may otherwise result in the spiraling of the prices thereof; and

WHEREAS, there is a need to reduce the tariff rates on subject articles to sustain their importation;

NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Republic of the Philippines, by virtue of the powers vested in me by Section 401 of the Tariff and Customs Code, do hereby order:

Sec. 1. The following articles under Section 104 of the Tariff and Customs Code, as amended, shall have rates of import duty in accordance with the schedule indicated opposite each article as listed below:

Sec. 2. Upon effectivity of this Executive Order, the aforementioned articles which are entered or withdrawn from warehouses in the Philippines for consumption shall be levied the duties herein prescribed.

Sec. 3. All executive orders, issuances, rules and regulations or parts thereof inconsistent with this Executive Order are hereby repealed or modified accordingly.

Sec. 4. This Executive Order shall take effect immediately upon its publication in two (2) national newspapers of general circulation in the Philippines.

DONE in the City of Manila, this 4th day of March in the year of Our Lord, Nineteen Hundred and Ninety-Five.